Tag: fraud

Banks fines securities

Bitcoin Used in SEC Market Manipulation Case No Comments

The Securities and Exchange Commission have charged day trader Joseph P. Willner with market manipulation and illegal use of brokerage accounts. It's alleged that Willner managed to generate over $700,000 in profits from the scheme. He and an accomplice had access to more than 100 traders' accounts and used them to manipulate the price of various stocks and securities. This allowed the pair to pro...


bitcoin, bitcoin price

JPMorgan’s Jamie Dimon Slams Bitcoin As “Fraud” No Comments

Speaking at an investor conference in New York on Tuesday, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon blasted Bitcoin in a series on damning statements. Calling the cryptocurrency a “fraud” that’s “worse than tulip bulbs”, he went on to say he’d fire any employee trading Bitcoin “in a second”. He gave the following concise reasons: “It’s against our rules” a...


Digital Bitcoin Company

UK Businessman behind Bitcoin Store Charged with Securities Fraud No Comments

An English businessman, Renwick Haddow has been charged by the United States Securities and Exchange Commission for securities fraud. According to reports, Haddow was promoting a fraudulent cryptocurrency trading platform, causing losses to unsuspecting investors. Haddow, who has been living in the New York is said to have been running two businesses, Bitcoin Store — a cryptocurrency investme...


Scams

Amateur Bitcoin Investors Defrauded by Criminals in India No Comments

India is an emerging Bitcoin market. As more people get to know about the cryptocurrency, the target audience for scammers is also on the rise. According to recent reports, cybercriminals are increasingly targeting the wealthy and affluent in the country, scamming them of their money by promising Bitcoin in return. Bitcoin scams, like any other investment scam, is prevalent across the world. Th...


Fraud Business Email Compromise

Business Email Compromise Fraud Schemes Continue To Gain Traction No Comments

Online fraud is becoming the most popular development of the 21st century so far. A Nigerian individual is facing US charges for this involvement in multiple scams. By impersonating vendors and company executives, the managed to scam hundreds of victims. All victims made large wire transfers to fraudulent accounts, resulting in a total loss of close to US$3.1bn. David Chukwuneke Adindu pleaded ...


Axis Bank Rupee Money laundering

Axis Bank Facilitates Banned Banknote Money Laundering In India No Comments

The banknote ban in India is causing some rather unexpected results. Axis Bank’s Noida branch suffered from a similar incident as what happened to Wells Fargo customer not took long ago. Bank employees opened fictitious bank accounts to deposit a lot of money, allowing them to bypass the current demonetisation plans. Banks remain the perfect partner in crime to get illegal funds into the formal ...


Online SHopping Fraud

2016 Holiday Shopping Fraud Report Shows Bitcoin Remains Most Secure No Comments

During the 2016 holiday weekend, global online sales have seen a significant nudge upwards. At the same time, payment card fraud increased by a whopping 20%. Consumer’s financial details are always at risk when dealing with payment cards these days. Bitcoin is a far safer option, as there is no sensitive personal information leaked during the transaction process. The rise in payment fraud dur...


Tesco Bank Fraud

Over 20,000 Tesco Bank Customers Affected By Theft No Comments

Banking woes can hit anyone in every country at any given time. Customers of Esto Bank have come to realize that fact, although there are dire consequences. Online payments for all account holders have been halted, and over 20,000 accounts are affected by an unspecified theft. Things aren't looking all that good for these UK bank customers, to say the least. Not having access to banking service...


Do Binary Options Scams still Exist? No Comments

Just like in life, scammers and fraudsters in binary options industry are naturally attracted to anywhere money is. Binary options, being an alluring prospect to so many people, used to attracted scammers in droves. A lot of people have fallen prey to cheap binary option scams in the past, and they are still being conned to this date. While scamming is not exclusive to binary options, binary opti...


Exploding Bank ATMs Europe

Number of Explosive Attacks Against European Bank ATMs Rises By 80% No Comments

Bank ATMs have always been a valuable target for criminals. In most cases, they would use malware to steal card information and defraud users. However, it looks like a more dangerous trend is taking place over in Europe right now. The number of cash machines being blown up with explosives has increased by 80% in the first half of 2016. A very worrisome trend, to say the least. One of the more o...


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